Board sets new tax rate to keep up with growth

Taxes and plans for a new town hall were among the topics discussed at the Stem board meeting June 17.

When discussing the tax rate, Mayor Casey Dover said that they needed “to scale the town to grow with the people.” He said the town is going in a positive direction and the population and growth will go hand in hand.

After a public hearing, the board unanimously approved the new tax rate of 33 cents per $100 valuation of personal property to provide the services expected and necessary for the town for the upcoming fiscal year. The board will use $13,290 from general fund balance to give the town a balanced budget.

The board looked at the revenue neutral rate of 29 cents per $100 valuation and determined this would not provide adequate funding for services needed for the town in the upcoming budget cycle.

A revenue neutral tax rate is the rate that would provide the same revenue in a revaluation year as if the county had not revalued the personal property as mandated by the State.

The board held a public hearing on extending the corporate limits of the town with a voluntary annexation of property off of Old NC 75 and Fate Washington Road. The board passed Ordinance 24-02 that would allow this annexation request by the owner of the property.

The board discussed the possibility of purchasing new accounting  software that will allow better control of the town’s finances through purchase orders and personnel payroll matters. The board asked for additional information before a decision could be made on this purchase.

Commissioners approved spending $1,820 on speed humps for the town.

A discussion was held about what was needed to make the city owned house beside town hall rent able. Commissioner David Pavlus said he is getting quotes on repairs and could be ready to move on the project in early July.

Commissioners briefly talked about the property designated for the new town hall. It was determined that several areas needed to be cleaned up in order to prepare the space to build the town hall.

Commissioner Kevin Easter said he would be honored to spearhead the new town hall project. The board will hold public meetings to get input on the town hall from citizens.

The board will hold its regular work session July 1 at 6:30 p.m.

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